Local businesses that are run by female entrepreneurs could see a $100,000 grant from the government.
As part of the 2018 budget, the Women Entrepreneurship Strategy is a comprehensive, whole-of-government plan to help women grow their businesses through access to financing, talent, networks and expertise.
Ron Begin, initiatives officer at FEDNOR says the fund will help rural Ontario women develop and expand their businesses.
“There are two streams: some are not-for-profit, who want to work with business in terms of their growth and the second is directly for women in business that will allow them to apply for $100,000 per business,” said Begin.
The Women’s Entrepreneurship Strategy is for businesses that have operated for at least 2 years, for up to $100,000 in grant funding per project, at up to 80% or 90% of costs, for projects lasting up to 12 months and that start in late winter. This is a one-time intake with a deadline of November 15th.
The program is likely to be competitive and the assessment criteria can be found here but priority applicants are diverse women entrepreneurs (including women with disabilities, Indigenous women, women in rural or remote regions.
Some examples of eligible businesses may be with products and/or services related to one of the agriculture, food, advanced manufacturing, biomedical or projects seeking to pursue market opportunities abroad.
Through the Women Entrepreneurship Strategy, the Government of Canada is investing $2 billion to help double the number of women-owned businesses by 2025 by increasing their access to financing, talent, networks, and expertise” said Hans Parmar, Media Relations with Innovation, Science and Economic Development Canada.
The Women Entrepreneurship Strategy is a two-year, $20-million commitment to invest directly in women-led businesses to help them grow and reach new markets. Funding is available for product and service development, inventory management, technology improvements and other projects supporting scale-up, expansion and growth. The Women Entrepreneurship Fund application deadline closes November 15, by 11:59 pm. Women entrepreneurs in the Parry Sound-Muskoka area are encouraged to apply.
Applicants from the Parry Sound – Muskoka region should apply before the respective application deadlines. Successful candidates can receive up to $100,000 non-repayable contribution to help their businesses scale-up and grow.
For further inquiry about the Women Entrepreneurship Fund, you may also call 1-800-328-6189.